March 2018 saw a rise in M3 money supply by PLN 10.4 billion. The rise was driven by an increase in deposits and other liabilities of banks towards the household sector and local government institutions.

According to the data on money supply released by Narodowy Bank Polski on 24 April 2018, in March 2018 the M3 aggregate, which reflects the total money supply, amounted to PLN 1.3 trillion at the end of the month and was PLN 10.4 billion higher than at the end of February 2018.

In March 2018 the value of deposits and other liabilities of banks towards the household sector, which are included in the M3 money supply, rose by PLN 5.1 billion (i.e. 0.7%) to PLN 745.4 billion. Local government deposits and other liabilities increased by PLN 1.0 billion (i.e. 2.8%) to the level of PLN 38.5 billion. The value of cash in circulation (excluding vault cash) increased by PLN 3.8 billion (i.e. 2.1%) to PLN 186.2 billion. Deposits and other liabilities of banks towards the corporate sector decreased – by PLN 2.2 billion (i.e. 0.8%) to the level of PLN 257.6 billion.

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